A handful of Korea’s major institutional investors, including Allianz Life, plan to invest about 96 billion won in Apple’s building in Silicon Valley. According to industry sources on March 13, the nation’s four major institutional investors, including Allianz Life, decided to invest $83 million in “410-430 North Mary Avenue” located in Sunnyvale.
They will make the investment through a real estate fund which will be created in mid-March by Koramco Fund, a specialist in operation of real estate funds. With a maturity of five years, the fund would generate an annual yield of 4.58 percent.
America’s real estate investment firm Tristar Capital acquired the building from Rockwood Capital for US$290.7 million last month.
The office building is now used 100 percent by Apple Inc. It is a complex consisting of three three-story buildings, with a total floor space of about 60,000 square meters. Built as Boeing’s office building in 1989, it was renovated during the 2008-2010 period.
National Pension Service’s (NPS) recent invitation for investment proposals to domestic private equity and venture capital funds, which amounts to 650 billion won ($577 million), has met with a lukewarm response from fund houses, amid concerns about the $500 billion&hellip
Korea Investment Corporation (KIC) Chief Investment Officer Shinwoo Kang will give a keynote speech in a global real estate and infrastructure summit on Oct. 25 in Seoul, where key investment decision-makers of South Korea’s biggest asset owners are set to&hellip
Asia-based investment firm Pacific Alliance Group (PAG) has bought an office building in southern Seoul from a fund led by the Public Officials Benefit Association (POBA) for around 310 billion won ($273 million), at a time when the growing nuclear&hellip